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WHEATON PRECIOUS METALS 1 FIRST QUARTER REPORT 2025 Interim Financial Statements

Condensed Interim Consolidated Statements of Earnings


			Three Months Ended March 31

(US dollars and shares in thousands, except per share amounts - unaudited)	Note		2026		2025

Sales		6	$	901,469	$	470,411

Cost of sales

Cost of sales, excluding depletion			$	125,243	$	74,635

Depletion				76,852		76,693

Total cost of sales			$	202,095	$	151,328

Gross margin			$	699,374	$	319,083

General and administrative		7		12,971		13,525

Share based compensation		8		10,113		12,181

Donations and community investments		9		1,497		2,693

Earnings from operations			$	674,793	$	290,684

Other income (expense)		10		17,736		7,520

Earnings before finance costs and income taxes			$	692,529	$	298,204

Finance costs		16.3		1,405		1,441

Earnings before income taxes			$	691,124	$	296,763

Income tax expense		22		109,080		42,779

Net earnings			$	582,044	$	253,984

Basic earnings per share			$	1.282	$	0.560

Diluted earnings per share			$	1.279	$	0.559

Weighted average number of shares outstanding

Basic		20		454,044		453,692

Diluted		20		454,955		454,428

The accompanying notes form an integral part of these unaudited condensed interim consolidated financial statements.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [2]

Condensed Interim Consolidated Statements of Comprehensive Income


			Three Months Ended March 31

(US dollars in thousands - unaudited)	Note		2026		2025

Net earnings			$	582,044	$	253,984

Other comprehensive income

Items that will not be reclassified to net earnings

Gain on LTIs¹		15	$	63,463	$	26,161

Income tax expense related to LTIs				(8,567)		(2,351)

Total other comprehensive income			$	54,896	$	23,810

Total comprehensive income			$	636,940	$	277,794

LTIs = long-term equity investments – common shares held.

The accompanying notes form an integral part of these unaudited condensed interim consolidated financial statements.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [3]

Condensed Interim Consolidated Balance Sheets



(US dollars in thousands - unaudited)	Note		As at March 31 2026		As at December 31 2025

Assets

Current assets

Cash and cash equivalents		21	$	2,164,505	$	1,153,593

Accounts receivable		11		18,039		46,723

Other				3,053		3,853

Total current assets			$	2,185,597	$	1,204,169

Non-current assets

Mineral stream interests		12	$	7,379,936	$	7,397,149

Early deposit mineral stream interests		13		47,097		47,094

Mineral royalty interests		14		40,421		40,421

Long-term equity investments		15		164,217		410,495

Property, plant and equipment				9,587		9,926

Other		23		19,340		16,527

Total non-current assets			$	7,660,598	$	7,921,612

Total assets			$	9,846,195	$	9,125,781

Liabilities

Current liabilities

Accounts payable and accrued liabilities			$	13,499	$	22,557

Dividends payable		17.2		88,549		-

Income taxes payable		22		367,506		109,951

Current portion of performance share units		19.1		12,216		21,604

Current portion of lease liabilities		16.2		581		575

Total current liabilities			$	482,351	$	154,687

Non-current liabilities

Performance share units		19.1	$	1,500	$	13,215

Lease liabilities		16.2		7,081		7,330

Income taxes payable - non-current		22		96,443		252,271

Deferred income taxes		22		9,487		1,794

Pension liability				6,055		5,976

Total non-current liabilities			$	120,566	$	280,586

Total liabilities			$	602,917	$	435,273

Shareholders’ equity

Issued capital		17	$	3,818,179	$	3,814,910

Reserves		18		99,780		176,911

Retained earnings				5,325,319		4,698,687

Total shareholders’ equity			$	9,243,278	$	8,690,508

Total liabilities and shareholders’ equity			$	9,846,195	$	9,125,781

The accompanying notes form an integral part of these unaudited condensed interim consolidated financial statements.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [4]

Condensed Interim Consolidated Statements of Cash Flows


			Three Months Ended March 31

(US dollars in thousands - unaudited)	Note		2026		2025

Operating activities

Net earnings			$	582,044	$	253,984

Adjustments for

Depreciation and depletion				77,283		76,994

Equity settled share based compensation		8		1,647		1,425

Performance share units - expense		19.1		8,466		10,756

Performance share units - paid		19.1		(29,257)		(17,209)

Income tax expense		22		109,080		42,779

Investment income recognized in net earnings				(13,015)		(9,046)

Other				(2,394)		3,007

Change in non-cash working capital		21		18,776		(7,742)

Cash generated from operations before income taxes and interest			$	752,630	$	354,948

Income taxes paid				(182)		(2,234)

Interest paid				(103)		(91)

Interest received				13,478		8,170

Cash generated from operating activities			$	765,823	$	360,793

Financing activities

Debt issue costs		26	$	(3,045)	$	-

Share purchase options exercised		18.1		739		2,506

Lease payments				(159)		(122)

Cash (used for) generated from financing activities			$	(2,465)	$	2,384

Investing activities

Mineral stream interests		12	$	(61,154)	$	(95,740)

Early deposit mineral stream interests		13		(3)		-

Acquisition of long-term investments		15		(14,608)		(3)

Proceeds on disposal of long-term investments		15		323,421		-

Dividends received				-		239

Other				3,440		(260)

Cash (used for) generated from investing activities			$	251,096	$	(95,764)

Effect of exchange rate changes on cash and cash equivalents			$	(3,542)	$	2

Increase in cash and cash equivalents			$	1,010,912	$	267,415

Cash and cash equivalents, beginning of period				1,153,593		818,166

Cash and cash equivalents, end of period		21	$	2,164,505	$	1,085,581

The accompanying notes form an integral part of these unaudited condensed interim consolidated financial statements.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [5]

Condensed Interim Consolidated Statements of Shareholders’ Equity



					Reserves
(US dollars in thousands - unaudited)	Number of Shares (000’s)		Issued Capital		Share Purchase Options Reserve		Restricted Share Units Reserve		LTI ¹ Revaluation Reserve (Net of Tax)		Total Reserves		Retained Earnings		Total

At January 1, 2025		453,677	$	3,798,108	$	23,361	$	8,859	$	(95,723)	$	(63,503)	$	3,524,774	$ 7,259,379

Total comprehensive income				-		-		-		23,810		23,810		253,984	277,794

SBC ¹ expense				-		579		846		-		1,425		-	1,425

Options ¹ exercised		62		2,965		(541)		-		-		(541)		-	2,424

RSUs ¹ released		69		3,095		-		(3,095)		-		(3,095)		-	-

Dividends (Note 17.2)				-		-		-		-		-		(74,880)	(74,880)

At March 31, 2025		453,808	$	3,804,168	$	23,399	$	6,610	$	(71,913)	$	(41,904)	$	3,703,878	$ 7,466,142

Total comprehensive income				-		-		-		216,514		216,514		1,217,736	1,434,250

Income tax recovery (expense)				-		-		-		-		-		1,788	1,788

SBC ¹ expense				-		2,074		2,976		-		5,050		-	5,050

Options ¹ exercised		116		5,857		(1,092)		-		-		(1,092)		-	4,765

RSUs ¹ released		73		1,657		-		(1,657)		-		(1,657)		-	-

Dividends		37		3,228		-		-		-		-		(224,715)	(221,487)

At December 31, 2025		454,034	$	3,814,910	$	24,381	$	7,929	$	144,601	$	176,911	$	4,698,687	$ 8,690,508

Total comprehensive income				-		-		-		54,896		54,896		582,044	636,940

Income tax recovery (expense)				-		-		-		-		-		1,993	1,993

SBC ¹ expense				-		700		947		-		1,647		-	1,647

Options ¹exercised		17		909		(170)		-		-		(170)		-	739

RSUs ¹ released		46		2,360		-		(2,360)		-		(2,360)		-	-

Dividends (Note 17.2)				-		-		-		-		-		(88,549)	(88,549)

Realized gain on disposal of LTIs ¹ (Note 18.3)				-		-		-		(131,144)		(131,144)		131,144	-

At March 31, 2026		454,097	$	3,818,179	$	24,911	$	6,516	$	68,353	$	99,780	$	5,325,319	$ 9,243,278

1)	Definitions as follows: “SBC” = Equity Settled Stock Based Compensation; “Options” = Share Purchase Options; “RSUs” = Restricted Share Units; “LTIs” = Long-Term Investments - Common Shares Held.

The accompanying notes form an integral part of these unaudited condensed interim consolidated financial statements.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [6]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

1.	Description of Business and Nature of Operations

Wheaton Precious Metals Corp. is a precious metal streaming company which generates its revenue primarily from the sale of precious metals (gold, silver and palladium) and cobalt. Wheaton Precious Metals Corp. (“Wheaton” or the “Company”), which is the ultimate parent company of its consolidated group, is incorporated and domiciled in Canada, and its principal place of business is at Suite 3500 - 1021 West Hastings Street, Vancouver, British Columbia, V6E 0C3. The Company trades on the Toronto Stock Exchange (“TSX”), the New York Stock Exchange (“NYSE”) and the London Stock Exchange (“LSE”) under the symbol WPM.

As of March 31, 2026, the Company has entered into 43 long-term agreements (35 of which are precious metal purchase agreements, or “PMPAs”, three of which are early deposit PMPAs, and five of which are royalty agreements), with 35 different mining companies, related to precious metals and cobalt relating to 22 mining assets which are currently operating, 24 of which are at various stages of development and 2 which have been placed into care and maintenance or have been closed, located in 18 countries. Pursuant to the PMPAs, Wheaton acquires metal production from the counterparties for an initial upfront payment plus an additional cash payment for each ounce or pound delivered which is either a fixed price or fixed percentage of the market price by contract, generally at or below the prevailing market price.

The condensed interim consolidated financial statements of the Company for the three months ended March 31, 2026 (“Interim Financial Statements”) were authorized for issue as of May 7, 2026 in accordance with a resolution of the Board of Directors.

2.	Basis of Presentation and Statement of Compliance

These Interim Financial Statements have been prepared on a historical cost basis, except for certain financial instruments which have been measured at fair value as at the relevant balance sheet date. The Interim Financial Statements are presented in United States (“US”) dollars, which is the Company’s functional currency, and all values are rounded to the nearest thousand US dollars (US$ 000’s) unless otherwise noted. References to “Cdn$” refer to Canadian dollars.

These Interim Financial Statements have been prepared in accordance with IAS 34, Interim Financial Reporting (“IAS 34”) as issued by the International Accounting Standards Board (“IASB”). The accounting policies applied in these Interim Financial Statements are based on IFRS Accounting Standards as issued by the IASB (“IFRS”) and have been prepared using the same accounting policies and methods of application as disclosed in Note 3 to the audited consolidated financial statements for the year ended December 31, 2025 and were consistently applied to all the periods presented unless otherwise stated below. These Interim Financial Statements do not include all the information and note disclosures required by IFRS for annual consolidated financial statements and therefore should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2025.

The preparation of financial statements in accordance with IAS 34 requires the use of certain accounting estimates. It also requires management to exercise judgment in applying the Company’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in Note 4.

In the opinion of management, all adjustments (including normal recurring adjustments) necessary to present fairly the financial position at March 31, 2026 and the results of operations and cash flows for all periods presented have been made. The interim results are not necessarily indicative of results for a full year.

3.	Material Accounting Policy Information

3.1.

Future Changes to Accounting Policies

The International Accounting Standards Board has issued the following new or amended standards:

IFRS 18 - Presentation and Disclosure in Financial Statements.

In April 2024, IFRS 18 Presentation and Disclosure in Financial Statements was issued. IFRS 18 replaces IAS 1 Presentation of Financial Statements while carrying forward many of the requirements in IAS 1. IFRS 18 introduces new requirements to: i) present specified categories and defined subtotals in the statement of earnings, ii) provide disclosures on management-defined performance measures (MPMs) in the notes to the financial statements, iii) improve aggregation and disaggregation. Some of the requirements in IAS 1 are moved to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors and IFRS 7 Financial Instruments: Disclosures. There were also minor

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [7]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

amendments to IAS 7 Statement of Cash Flows and IAS 33 Earnings per Share in connection with the new standard. IFRS 18 requires retrospective application with specific transition provisions. The Company is required to apply IFRS 18 for annual reporting periods beginning on or after January 1, 2027 with early adoption permitted. The Company is currently evaluating the impact of IFRS 18 on its financial statements.

4.	Key Sources of Estimation Uncertainty and Critical Accounting Judgments

The preparation of the Company’s Interim Financial Statements requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities and contingent liabilities at the date of the consolidated financial statements and reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are continuously evaluated and are based on management’s experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. However, actual outcomes can differ from these estimates.

Information about significant areas of estimation uncertainty and judgments made by management in preparing the Interim Financial Statements are unchanged from those disclosed in Note 4 to the audited consolidated financial statements for the year ended December 31, 2025.

5.	Financial Instruments

There have been no significant changes to the Company’s financial instruments and related risks since December 31, 2025. Refer to Note 5 to the audited consolidated financial statements for the year ended December 31, 2025 for more information.

5.1.

Fair Value Estimation

The Company classifies its fair value measurements within a fair value hierarchy, which reflects the significance of the inputs used in making the measurements as defined in IFRS 13 – Fair Value Measurements (“IFRS 13”).

Level 1 - Unadjusted quoted prices at the measurement date for identical assets or liabilities in active markets.

Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3 - Unobservable inputs which are supported by little or no market activity.

The following table sets forth the Company’s financial assets and liabilities measured at fair value by level within the fair value hierarchy. As required by IFRS 13, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.



			March 31, 2026

(in thousands)	Note		Total		Level 1		Level 2		Level 3

Cash and cash equivalents		21	$	2,164,505	$	2,164,505	$	-	$	-

Trade receivables from provisional concentrate sales, net of fair value adjustment		11		11,942		-		11,942		-

Long-term investments - common shares held		15		161,879		161,879		-		-

Long-term investments - warrants held		15		2,338		-		2,338		-

			$	2,340,664	$	2,326,384	$	14,280	$	-

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [8]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)



			December 31, 2025

(in thousands)	Note		Total		Level 1		Level 2		Level 3

Cash and cash equivalents		21	$	1,153,593	$	1,153,593	$	-	$	-

Trade receivables from provisional concentrate sales, net of fair value adjustment		11		41,545		-		41,545		-

Long-term investments - common shares held		15		407,230		407,230		-		-

Long-term investments - warrants held		15		3,265		-		3,265		-

			$	1,605,633	$	1,560,823	$	44,810	$	-

When balances are outstanding, the Company’s bank debt (Note 16.1 and 26) is reported at amortized cost using the effective interest method.

5.1. Valuation Techniques for Level 2 Assets

Accounts Receivable Arising from Sales of Metal Concentrates

The Company’s trade receivables from provisional concentrate sales are valued based on forward price of silver to the expected date of final settlement (Note 6). As such, these receivables and/or liabilities are classified within Level 2 of the fair value hierarchy.

Long-Term Investments in Warrants Held

The fair value of the Company’s long-term investments in warrants held that are not traded in an active market are determined using a Black-Scholes model based on assumptions including risk-free interest rate, expected dividend yield, expected volatility and expected warrant life which are supported by observable current market conditions and as such are classified within Level 2 of the fair value hierarchy. The use of reasonably possible alternative assumptions would not significantly affect the Company’s results.

6.	Revenue


	Three Months Ended March 31

(in thousands)	2026				2025

Sales

Gold credit sales	$	461,038	51	%	$	319,696	68	%
Silver

Silver credit sales	$	331,058	37	%	$	122,299	26	%

Concentrate sales		95,712	10	%		22,638	4	%

Total silver sales	$	426,770	47	%	$	144,937	30	%

Palladium credit sales	$	4,909	1	%	$	2,372	1	%

Cobalt sales	$	8,752	1	%	$	3,406	1	%

Total sales revenue	$	901,469	100	%	$	470,411	100	%

Gold, Silver and Palladium Credit Sales

Under certain PMPAs, precious metal is acquired from the mine operator in the form of precious metal credits, which is then sold through bullion banks. Revenue from precious metal credit sales is recognized at the time of the sale of such credits, which is also the date that control of the precious metal is transferred to the customer.

Concentrate Sales

Under certain PMPAs, silver is acquired from the mine operator in concentrate form, which is then sold under the terms of the concentrate sales contracts to third-party smelters or traders. Where the Company acquires precious metal in concentrate form, final precious metal prices are set on a specified future quotational period (the “Quotational Period”) pursuant to the concentrate sales contracts with third-party smelters, typically one to three months after the shipment date, based on market prices for precious metal. The contracts, in general, provide for a provisional payment based upon provisional assays and quoted gold and silver prices. Final settlement is based upon the

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [9]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

average applicable price for the Quotational Period applied to the actual number of precious metal ounces recovered calculated using confirmed smelter weights and settlement assays. Revenues and the associated cost of sales are recorded on a gross basis under these contracts at the time title passes to the customer, which is also the date that control of the precious metal is transferred to the customer. The Company has concluded that the adjustments relating to the final assay results for the quantity of concentrate sold are not significant and do not constrain the recognition of revenue.

Cobalt Sales

The Company has entered into an offtake agreement under which all cobalt is sold to a third-party offtaker. Revenue from the cobalt sale is recognized at the time of the delivery, which is also the date that control of the cobalt is transferred to the offtaker.

7.	General and Administrative


	Three Months Ended March 31

(in thousands)	2026		2025

Salaries and benefits	$	6,642	$	7,811

Depreciation		431		301

Professional fees, audit and regulatory		2,069		1,851

Business travel		683		586

Business taxes		867		622

Insurance		491		493

Other		1,788		1,861

Total general and administrative	$	12,971	$	13,525

8.	Share Based Compensation


			Three Months Ended March 31

(in thousands)	Note		2026		2025

Equity settled share based compensation ¹

Share purchase options		18.1	$	700	$	579

Restricted share units		18.2		947		846

Cash settled share based compensation

Performance share units		19.1	$	8,466	$	10,756

Total share based compensation			$	10,113	$	12,181

1)	Equity settled share based compensation is a non-cash expense.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [10]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

9.	Donations and Community Investments


	Three Months Ended March 31

(in thousands)	2026		2025

Local donations and community investments ¹	$	757	$	832

Partner donations and community investments ²		662		757

Environmental and innovation investments ³		78		1,104

Total donations and community investments	$	1,497	$	2,693

1)	The Local Community Investment Program supports organizations in Vancouver and the Cayman Islands, where Wheaton’s offices are located.

2)	The Partner Community Investment Program supports the communities influenced by Mining Partners’ operations.

3)	Includes the Company’s funding of initiatives that seek to reduce environmental impacts and support innovation and efficiency in mining, including costs associated with the Future of Mining Challenge.

10.

Other Income (Expense)


	Three Months Ended March 31

(in thousands)	2026		2025

Interest income	$	13,015	$	8,807

Dividend income		-		239

Foreign exchange gain (loss)		2,640		(152)

Gain (loss) on fair value adjustment of share purchase warrants held		(928)		623

Other		3,009		(1,997)

Total other income (expense)	$	17,736	$	7,520

11.

Accounts Receivable



(in thousands)	Note		March 31 2026		December 31 2025

Trade receivables from provisional concentrate sales, net of fair value adjustment		6	$	11,942	$	41,545

Trade receivables from sales of cobalt		6		5,035		3,472

Other accounts receivable				1,062		1,706

Total accounts receivable			$	18,039	$	46,723

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [11]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

12.

Mineral Stream Interests


	Three Months Ended March 31, 2026

	Cost								Accumulated Depletion & Impairment ¹

(in thousands)	Balance Jan 1, 2026		Additions		Disposal ^4,5		Balance Mar 31, 2026		Balance Jan 1, 2026		Depletion		Disposal ^4,5		Balance Mar 31, 2026		Carrying Amount Mar 31, 2026

Gold interests

Salobo	$	3,573,911	$	-	$	-	$	3,573,911	$	(953,201)	$	(23,713)	$	-	$	(976,914)	$	2,596,997

Sudbury ²		623,864		-		-		623,864		(405,370)		(6,172)		-		(411,542)		212,322

Constancia		140,058		-		-		140,058		(87,774)		(3,683)		-		(91,457)		48,601

San Dimas		220,429		-		-		220,429		(95,211)		(3,285)		-		(98,496)		121,933

Stillwater ³		239,352		-		-		239,352		(35,150)		(795)		-		(35,945)		203,407

Blackwater		340,231		-		-		340,231		(9,183)		(2,978)		-		(12,161)		328,070

Platreef		275,702		-		-		275,702		-		-		-		-		275,702

Other ⁴		1,513,278		56,422		(19,360)		1,550,340		(56,146)		(8,624)		19,360		(45,410)		1,504,930

	$	6,926,825	$	56,422	$	(19,360)	$	6,963,887	$	(1,642,035)	$	(49,250)	$	19,360	$	(1,671,925)	$	5,291,962

Silver interests

Peñasquito	$	524,626	$	-	$	-		524,626	$	(317,760)	$	(7,350)	$	-	$	(325,110)	$	199,516

Antamina		900,343		9		-		900,352		(441,260)		(6,606)		-		(447,866)		452,486

Constancia		302,948		-		-		302,948		(151,545)		(4,333)		-		(155,878)		147,070

Blackwater		170,947		-		-		170,947		(3,445)		(957)		-		(4,402)		166,545

Other ⁵		1,168,469		3,208		(3,048)		1,168,629		(611,582)		(4,143)		3,048		(612,677)		555,952

	$	3,067,333	$	3,217	$	(3,048)	$	3,067,502	$	(1,525,592)	$	(23,389)	$	3,048	$	(1,545,933)	$	1,521,569

Palladium interests

Stillwater ³	$	263,721	$	-	$	-	$	263,721	$	(54,829)	$	(1,430)		-	$	(56,259)	$	207,462

Platreef		78,814		-		-		78,814		-		-		-		-		78,814

	$	342,535	$	-	$	-	$	342,535	$	(54,829)	$	(1,430)	$	-	$	(56,259)	$	286,276

Platinum interests

Marathon	$	9,451	$	-	$	-	$	9,451	$	-	$	-		-	$	-	$	9,451

Platreef		57,584		-		-		57,584		-		-		-		-		57,584

	$	67,035	$	-	$	-	$	67,035	$	-	$	-	$	-	$	-	$	67,035

Cobalt interests

Voisey’s Bay	$	393,422	$	-	$	-	$	393,422	$	(177,545)	$	(2,783)		-	$	(180,328)	$	213,094

	$	10,797,150	$	59,639	$	(22,408)	$	10,834,381	$	(3,400,001)	$	(76,852)	$	22,408	$	(3,454,445)	$	7,379,936

1)	Includes cumulative impairment charges to March 31, 2026 as follows: El Alto silver interest - $338 million; Sudbury gold interest - $120 million; and Voisey’s Bay cobalt interest - $109 million.

2)	Comprised of the Coleman, Copper Cliff, Garson, Stobie, Creighton, Totten and Victor gold interests.

3)	Comprised of the Stillwater and East Boulder gold and palladium interests.

Comprised of the Minto, Copper World Complex, Marmato, Santo Domingo, Fenix, Marathon, Goose, El Domo, Cangrejos, Curraghinalt, Kudz Ze Kayah, Koné, Kurmuk, Spring Valley and Hemlo gold interests. The additions to other gold interests include Spring Valley - $50 million and Marmato - $37 million; less a repayment relative to Santo Domingo - $30 million to be re-advanced at a later date. The fully depleted Minto PMPA was removed from the Mineral Stream Interests owned due to Minto Metals Corp. being placed in receivership.

Comprised of the Los Filos, Zinkgruvan, Stratoni, Neves-Corvo, Minto, Aljustrel, Loma de La Plata, El Alto, Copper World Complex, Marmato, Cozamin, El Domo, Mineral Park and Kudz Ze Kayah silver interests. The additions to other silver interests include Marmato - $3 million. The fully depleted Minto PMPA was removed from the Mineral Stream Interests owned due to Minto Metals Corp. being placed in receivership.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [12]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)


	Year Ended December 31, 2025

	Cost								Accumulated Depletion & Impairment ¹

(in thousands)	Balance Jan 1, 2025		Additions		Disposal ⁶		Balance Dec 31, 2025		Balance Jan 1, 2025		Depletion		Balance Dec 31, 2025		Carrying Amount Dec 31, 2025

Gold interests

Salobo	$	3,429,911	$	144,000	$	-	$	3,573,911	$	(834,426)	$	(118,775)	$	(953,201)	$	2,620,710

Sudbury ²		623,864		-		-		623,864		(382,313)		(23,057)		(405,370)		218,494

Constancia		140,058		-		-		140,058		(75,732)		(12,042)		(87,774)		52,284

San Dimas		220,429		-		-		220,429		(83,948)		(11,263)		(95,211)		125,218

Stillwater ³		239,352		-		-		239,352		(31,892)		(3,258)		(35,150)		204,202

Blackwater		340,231		-		-		340,231		-		(9,183)		(9,183)		331,048

Platreef		275,702		-		-		275,702		-		-		-		275,702

Other ⁴		419,174		1,110,110		(16,006)		1,513,278		(53,791)		(2,355)		(56,146)		1,457,132

	$	5,688,721	$	1,254,110	$	(16,006)	$	6,926,825	$	(1,462,102)	$	(179,933)	$	(1,642,035)	$	5,284,790

Silver interests

Peñasquito	$	524,626	$	-	$	-	$	524,626	$	(280,161)	$	(37,599)	$	(317,760)	$	206,866

Antamina		900,343		-		-		900,343		(409,572)		(31,688)		(441,260)		459,083

Constancia		302,948		-		-		302,948		(137,570)		(13,975)		(151,545)		151,403

Blackwater		140,908		30,039		-		170,947		-		(3,445)		(3,445)		167,502

Other ⁵		1,115,154		53,315		-		1,168,469		(593,432)		(18,150)		(611,582)		556,887

	$	2,983,979	$	83,354	$	-	$	3,067,333	$	(1,420,735)	$	(104,857)	$	(1,525,592)	$	1,541,741

Palladium interests

Stillwater ³	$	263,721	$	-	$	-	$	263,721	$	(50,542)	$	(4,287)	$	(54,829)	$	208,892

Platreef		78,814		-		-		78,814		-		-		-		78,814

	$	342,535	$	-	$	-	$	342,535	$	(50,542)	$	(4,287)	$	(54,829)	$	287,706

Platinum interests

Marathon	$	9,451	$	-	$	-	$	9,451	$	-	$	-	$	-	$	9,451

Platreef		57,584		-		-		57,584		-		-		-		57,584

	$	67,035	$	-	$	-	$	67,035	$	-	$	-	$	-	$	67,035

Cobalt interests

Voisey’s Bay	$	393,422	$	-	$	-	$	393,422	$	(162,733)	$	(14,812)	$	(177,545)	$	215,877

	$	9,475,692	$	1,337,464	$	(16,006)	$	10,797,150	$	(3,096,112)	$	(303,889)	$	(3,400,001)	$	7,397,149

1)	Includes cumulative impairment charges to December 31, 2025 as follows: El Alto silver interest - $338 million; Sudbury gold interest - $120 million; and Voisey’s Bay cobalt interest - $109 million.

2)	Comprised of the Coleman, Copper Cliff, Garson, Stobie, Creighton, Totten and Victor gold interests.

3)	Comprised of the Stillwater and East Boulder gold and palladium interests.

Comprised of the Minto, Copper World Complex, Marmato, Santo Domingo, Fenix, Marathon, Goose, El Domo, Cangrejos, Curraghinalt, Kudz Ze Kayah, Koné, Kurmuk, Spring Valley and Hemlo gold interests. The additions to other gold interests include Kone - $469 million, Hemlo - $300 million, Kurmuk - $131 million, Fenix - $125 million, Spring Valley - $50 million, El Domo - $32 million, Cangrejos - $3 million and Kudz Ze Kayah - $1 million.

Comprised of Los Filos, Zinkgruvan, Stratoni, Neves-Corvo, Minto, Aljustrel, Loma de La Plata, El Alto, Copper World Complex, Marmato, Cozamin, El Domo, Mineral Park and Kudz Ze Kayah silver interests. The additions to other silver interests include Mineral Park - $40 million, El Domo - $12 million and Kudz Ze Kayah - $1 million.

6)	During Q3 2025, in connection with its acquisition of Lumina Gold Corp., CMOC exercised its 33% buy-back option under the Cangrejos PMPA.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [13]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

The value allocated to reserves is classified as depletable upon a mining operation achieving commercial production and is depleted on a unit-of-production basis over the estimated recoverable proven and probable reserves at the mine. The value associated with resources and exploration potential is allocated at acquisition and is classified as non-depletable until such time as it is transferred to the depletable category, generally as a result of the conversion of resources or exploration potential into reserves.


	March 31, 2026						December 31, 2025

(in thousands)	Depletable		Non- Depletable		Total		Depletable		Non- Depletable		Total

Gold interests

Salobo	$	2,270,822	$	326,175	$	2,596,997	$	2,294,535	$	326,175	$	2,620,710

Sudbury ¹		175,229		37,093		212,322		181,401		37,093		218,494

Constancia		45,077		3,524		48,601		48,761		3,523		52,284

San Dimas		43,156		78,777		121,933		46,440		78,778		125,218

Stillwater ²		183,773		19,634		203,407		184,568		19,634		204,202

Blackwater		314,961		13,109		328,070		317,940		13,108		331,048

Platreef		-		275,702		275,702		-		275,702		275,702

Other ³		440,819		1,064,111		1,504,930		92,269		1,364,863		1,457,132

	$	3,473,837	$	1,818,125	$	5,291,962	$	3,165,914	$	2,118,876	$	5,284,790

Silver interests

Peñasquito	$	199,516	$	-	$	199,516	$	206,866	$	-	$	206,866

Antamina		206,674		245,812		452,486		213,280		245,803		459,083

Constancia		140,697		6,373		147,070		145,029		6,374		151,403

Blackwater		166,545		-		166,545		167,502		-		167,502

Other ⁴		206,060		349,892		555,952		210,203		346,684		556,887

	$	919,492	$	602,077	$	1,521,569	$	942,880	$	598,861	$	1,541,741

Palladium interests

Stillwater ²	$	199,974	$	7,488	$	207,462	$	201,404	$	7,488	$	208,892

Platreef		-		78,814		78,814		-		78,814		78,814

	$	199,974	$	86,302	$	286,276	$	201,404	$	86,302	$	287,706

Platinum interests

Marathon	$	-	$	9,451	$	9,451	$	-	$	9,451	$	9,451

Platreef		-		57,584		57,584		-		57,584		57,584

	$	-	$	67,035	$	67,035	$	-	$	67,035	$	67,035

Cobalt interests

Voisey’s Bay	$	201,239	$	11,855	$	213,094	$	204,022	$	11,855	$	215,877

	$	4,794,542	$	2,585,394	$	7,379,936	$	4,514,220	$	2,882,929	$	7,397,149

1)	Comprised of the Coleman, Copper Cliff, Garson, Stobie, Creighton, Totten and Victor gold interests.

2)	Comprised of the Stillwater and East Boulder gold and palladium interests.

3)	Comprised of the Copper World Complex, Marmato, Santo Domingo, Fenix, Marathon, Goose, El Domo, Cangrejos, Curraghinalt, Kudz Ze Kayah, Koné, Kurmuk, Spring Valley and Hemlo gold interests.

4)	Comprised of the Zinkgruvan, Neves-Corvo, Aljustrel, Loma de La Plata, El Alto, Copper World Complex, Marmato, Cozamin, El Domo, Mineral Park and Kudz Ze Kayah silver interests.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [14]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

Significant acquisitions, amendments and disposals of mineral stream interests (if any) in the three months ended March 31, 2026 are outlined below. The percentage of payable production and other key PMPA terms for all mineral stream interests are described in Note 24.

Antamina

On February 16, 2026, the Company entered into a PMPA with BHP Group Limited (“BHP”) (the “BHP Antamina PMPA”) for their 33.75% portion of the silver produced at the Antamina Mine located in Peru. Effective April 1, 2026, Wheaton will receive a combined 67.5% of all the silver produced from Antamina, up from the 33.75% currently delivered under the existing Glencore silver stream.

Under the terms of the BHP Antamina PMPA, the Company paid BHP total upfront cash consideration of $4.3 billion on April 1, 2026, being the date of closing. Additionally, the Company will make ongoing payments for the silver ounces delivered equal to 20% of the spot price of silver. Under the terms of the BHP Antamina PMPA, which is effective April 1, 2026, the Company will purchase BHP’s 33.75% of the payable silver until a total of 100 million ounces has been delivered, at which point the Company will purchase 22.5% of the payable silver for the life of mine. Payable silver will be calculated using a fixed payable factor of 90.0%.

13.

Early Deposit Mineral Stream Interests

Early deposit mineral stream interests represent agreements relative to early stage development projects whereby Wheaton can choose not to proceed with the agreement once certain documentation has been received including, but not limited to, feasibility studies, environmental studies and impact assessment studies (please see Note 24 for more information). Once Wheaton has elected to proceed with the agreement, the carrying value of the stream will be transferred to Mineral Stream Interests.

The following table summarizes the early deposit mineral stream interests owned by the Company as of March 31, 2026 and December 31, 2025:


											Attributable Production to be Purchased

Early Deposit Mineral Stream Interests	Mine Owner		Location of Mine		Upfront Consideration Paid to Date ¹		Upfront Consideration to be Paid ^{1, 2}		Total Upfront Consideration¹		Gold		Silver		Term of Agreement

Toroparu		Aris Mining		Guyana	$	15,500	$	138,000	$	153,500		10%		50%		Life of Mine

Cotabambas		Panoro		Peru		14,000		126,000		140,000		25% ³		100% ³		Life of Mine

Kutcho		Kutcho		Canada		16,852		58,000		74,852		100%		100%		Life of Mine

					$	46,352	$	322,000	$	368,352

1)	Expressed in thousands of United States dollars; excludes closing costs and capitalized interest, where applicable.

2)	Please refer to Note 24 for details of when the remaining upfront consideration to be paid becomes due.

3)	Once 90 million silver equivalent ounces attributable to Wheaton have been produced, the attributable production will decrease to 16.67% of gold production and 66.67% of silver production for the life of mine.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [15]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

14.

Mineral Royalty Interests

The following table summarizes mineral royalty interests owned by the Company as of March 31, 2026 and December 31, 2025:

Royalty Interests

Mine
Owner

Location of
Mine

Royalty¹

Total
Upfront
Consideration ²

Term of
Agreement

Date of
Original
Contract

Metates

Chesapeake

Mexico

0.5% NSR

3,000

Life of Mine

07-Aug-2014

Brewery Creek³

Victoria Gold

Canada

2.0% NSR

3,529

Life of Mine

04-Jan-2021

Black Pine⁴

Liberty Gold

USA

0.5% NSR

3,600

Life of Mine

10-Sep-2023

Mt Todd⁵

Vista

Australia

1.0% GR

20,000

Life of Mine

13-Dec-2023

DeLamar ⁶

Integra

USA

1.5% NSR

9,750

Life of Mine

20-Feb-2024

39,879

1)	Abbreviation as follows: NSR = Net Smelter Return Royalty; and GR = Gross Royalty.

2)	Expressed in thousands; excludes closing costs.

The Company paid $3 million for an existing 2.0% net smelter return royalty interests on the first 600,000 ounces of gold mined and a 2.75% net smelter returns royalty interest thereafter. The Brewery Creek royalty agreement provides, among other things, that Golden Predator Mining Corp., (subsidiary of Victoria Gold) may reduce the 2.75% net smelter royalty interest to 2.125% on payment of the sum of Cdn$2 million to the Company. On August 14, 2024, the Ontario Superior Court of Justice placed Victoria Gold Corp into receivership following the failure of the heap leach pad at its Eagle Mine in June, 2024.

4)	Liberty Gold has been granted an option to repurchase 50% of the NSR for $4 million at any point in time up to the earlier of commercial production at Black Pine or January 1, 2030.

5)	The Mt Todd royalty is at a rate of 1% of gross revenue with such rate being subject to increase to a maximum rate of 2%, depending on the timing associated with the achievement of certain operational milestones.

6)	Under the DeLamar royalty, if completion is not achieved by January 1, 2029, the DeLamar royalty will increase annually by 0.15% of net smelter returns to a maximum of 2.7% of net smelter returns.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [16]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

15.

Long-Term Equity Investments



(in thousands)	March 31 2026		December 31 2025

Common shares held	$	161,879	$	407,230

Warrants held		2,338		3,265

Total long-term equity investments	$	164,217	$	410,495

Common Shares Held


	Three Months Ended March 31, 2026

(in thousands)	Fair Value at Dec 31, 2025		Additions		Disposals ²		Fair Value Adjustment Gains ¹		Fair Value at Mar 31, 2026		Realized Gain (Loss) on Disposal

Streaming or royalty partners	$	382,628	$	-	$	(313,106)	$	45,215	$	114,737	$	204,846

Strategic investments		24,602		14,608		(10,316)		18,248		47,142		(53,327)

Total	$	407,230	$	14,608	$	(323,422)	$	63,463	$	161,879	$	151,519

1)	Fair Value Gains (Losses) are reflected as a component of OCI.

2)	The disposals during the quarter were made to partially fund the BHP Antamina PMPA (Notes 12 and 26).


	Three Months Ended March 31, 2025

(in thousands)	Fair Value at Dec 31, 2024		Additions		Disposals		Fair Value Adjustment Gains (Losses) ¹		Fair Value at Mar 31, 2025		Realized (Loss) Gain on Disposal

Streaming or royalty partners	$	93,915	$	-	$	-	$	27,884	$	121,799	$	-

Strategic investments		4,275		3,117		-		(1,723)		5,669		-

Total	$	98,190	$	3,117	$	-	$	26,161	$	127,468	$	-

1)	Fair Value Gains (Losses) are reflected as a component of OCI.

The Company’s long-term investments in common shares (“LTIs”) are held for long-term strategic purposes and not for trading purposes. As such, the Company has elected to reflect any fair value adjustments, net of tax, as a component of other comprehensive income (“OCI”). The cumulative gain or loss will not be reclassified to net earnings on disposal of these long-term investments but is reclassified to retained earnings.

By holding these long-term investments, the Company is inherently exposed to various risk factors including currency risk, market price risk and liquidity risk.

16.

Credit Facilities

16.1.

Sustainability-Linked Revolving Credit Facility

As at March 31, 2026, the Company’s unsecured $2.0 billion revolving credit facility remained undrawn (please see Note 26 for more information). In addition to the credit facility, the Company has a $500 million accordion feature. The facility includes sustainability-linked features and a financial covenant requiring a capitalization ratio ≤ 0.60:1, with which the Company was in compliance as at March 31, 2026 and 2025. Interest on drawn amounts is based on the Company’s leverage ratio at SOFR + 1.10% to 2.15%. The standby fee was 0.1966% (2025 – 0.1966%).

The Revolving Facility, which is classified as a financial liability and reported at amortized cost using the effective interest method, can be drawn down at any time to finance acquisitions, investments or for general corporate

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [17]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

purposes. In connection with the Revolving Facility, there is $4 million unamortized debt issue costs which have been recorded as a long-term asset under the classification Other (see Note 23).

16.2.

Lease Liabilities

The lease liability on the Company’s offices located in Vancouver, Canada and the Cayman Islands is as follows:



(in thousands)	March 31 2026		December 31 2025

Current portion	$	581	$	575

Long-term portion		7,081		7,330

Total lease liabilities	$	7,662	$	7,905

The maturity analysis, on an undiscounted basis, of these leases is as follows:


(in thousands)	March 31 2026

Not later than 1 year	$	987

Later than 1 year and not later than 5 years		4,171

Later than 5 years		4,673

Total lease liabilities	$	9,831

16.3.

Finance Costs

A summary of the Company’s finance costs associated with the above facilities during the period is as follows:


			Three Months Ended March 31

(in thousands)	Note		2026		2025

Costs related to undrawn credit facilities		16.1	$	1,303	$	1,350

Interest expense - lease liabilities		16.2		102		91

Total finance costs			$	1,405	$	1,441

17.

Issued Capital



(in thousands)	Note		March 31 2026		December 31 2025

Issued capital

Share capital issued and outstanding: 454,097,336 common shares (December 31, 2025: 454,033,830 common shares)		17.1	$	3,818,179	$	3,814,910

17.1.

Shares Issued

The Company is authorized to issue an unlimited number of common shares having no par value and an unlimited number of preference shares issuable in series. As at March 31, 2026 and 2025, the Company had no preference shares outstanding.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [18]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

17.2.

Dividends Declared


		Three Months Ended March 31

(in thousands, except per share amounts)		2026		2025

Dividends declared per share		$	0.195	$	0.165

Average number of shares eligible for dividend			454,099		453,821

Total dividends declared		$	88,549	$	74,880

1) The Company has implemented a DRIP whereby shareholders can elect to have dividends reinvested directly into additional Wheaton common shares.

18. Reserves

(in thousands)	Note	March 31 2026		December 31 2025

Reserves
Share purchase options	18.1	$	24,911	$	24,381
Restricted share units	18.2		6,516		7,929
Long-term investment revaluation reserve, net of tax	18.3		68,353		144,601

Total reserves		$	99,780	$	176,911

18.1.

Share Purchase Options

The Company has established an equity settled share purchase option plan whereby the Company’s Board of Directors may, from time to time, grant options to employees or consultants. The maximum term of any share purchase option may be ten years, but generally options are granted with a term to expiry of five to seven years. The exercise price of an option is not less than the closing price on the TSX on the last trading day preceding the grant date. The vesting period of the options is determined at the discretion of the Company’s Board of Directors at the time the options are granted, but generally vest over a period of three years.

Each share purchase option converts into one common share of Wheaton on exercise. No amounts are paid or payable by the recipient on receipt of the option. The options do not carry rights to dividends or voting rights. Options may be exercised at any time from the date of vesting to the date of their expiry, subject to certain black-out periods.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [19]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

The Company expenses the fair value of share purchase options that are expected to vest on a straight-line basis over the vesting period using the Black-Scholes option pricing model to estimate the fair value for each option at the date of grant. The Black-Scholes model was developed for use in estimating the fair value of traded options that have no vesting restrictions. The model requires the use of subjective assumptions, including expected share price volatility. Historical data has been considered in setting the assumptions. Expected volatility is determined by considering the trailing 36-month historic average share price volatility. The weighted average fair value of share purchase options granted and principal assumptions used in applying the Black-Scholes option pricing model are as follows:


	Three Months Ended March 31

	2026		2025

Black-Scholes weighted average assumptions

Grant date share price and exercise price		Cdn$190.62		Cdn$108.56

Expected dividend yield		0.65%		0.92%

Expected volatility		30%		30%

Risk-free interest rate		3.05%		2.89%

Expected option life, in years		3.0		3.0

Weighted average fair value per option granted		Cdn$43.34		Cdn$23.90

Number of options issued during the period		95,290		178,020

Total fair value of options issued (000’s)	$	3,020	$	2,974

The following table summarizes information about the options outstanding and exercisable at March 31, 2026:


Exercise Price (Cdn$)	Exercisable Options		Non-Exercisable Options		Total Options Outstanding		Weighted Average Remaining Contractual Life

$49.86		160,010		-		160,010	2.0 years

$55.69¹		6,714		-		6,714	2.0 years

$60.00		164,163		-		164,163	3.0 years

$65.46¹		15,650		-		15,650	3.0 years

$59.41		206,171		-		206,171	4.0 years

$60.31¹		31,034		-		31,034	4.0 years

$59.79		129,741		70,048		199,789	5.0 years

$61.54¹		37,122		21,513		58,635	5.0 years

$105.78¹		12,574		25,156		37,730	6.0 years

$108.56		46,000		92,356		138,356	6.0 years

$190.62		-		73,090		73,090	7.0 years

$194.30¹		-		22,200		22,200	7.0 years

		809,179		304,363		1,113,542	4.3 years

1)	US$ share purchase options converted to Cdn$ using the exchange rate of 1.3939, being the Cdn$/US$ exchange rate at March 31, 2026.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [20]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

A continuity schedule of the Company’s outstanding share purchase options from January 1, 2025 to March 31, 2026 is presented below:


	Number of Options Outstanding		Weighted Average Exercise Price

At January 1, 2025		1,070,974		Cdn$58.14

Granted (fair value - $3 million or Cdn$23.90 per option)		178,020		108.56

Exercised		(62,041)		55.90

Forfeited		(24,410)		59.76

At March 31, 2025		1,162,543		Cdn$65.95

Exercised		(116,448)		56.84

Forfeited		(8,593)		97.83

Expired		(2,186)		49.86

At December 31, 2025		1,035,316		Cdn$66.40

Granted (fair value - $3 million or Cdn$43.34 per option)		95,290		190.62

Exercised		(17,064)		59.65

At March 31, 2026		1,113,542		Cdn$77.37

As it relates to share purchase options, during the three months ended March 31, 2026, the weighted average share price at the time of exercise was Cdn$175.05 per share, as compared to Cdn$109.30 per share during the comparable period in 2025.

18.2.

Restricted Share Units (“RSUs”)

The Company has established an RSU plan whereby RSUs will be issued to eligible employees or directors as determined by the Company’s Board of Directors or the Company’s Compensation Committee. RSUs give the holder the right to receive a specified number of common shares at the specified vesting date. RSUs generally vest over a period of three years. Compensation expense related to RSUs is recognized over the vesting period based upon the fair value of the Company’s common shares on the grant date and the awards that are expected to vest. The fair value is calculated with reference to the closing price of the Company’s common shares on the TSX on the business day prior to the date of grant.

RSU holders receive a cash payment based on the dividends paid on the Company’s common shares in the event that the holder of a vested RSU has elected to defer the release of the RSU to a future date. This cash payment is reflected as a component of net earnings under the classification Share Based Compensation.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [21]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

A continuity schedule of the Company’s restricted share units outstanding from January 1, 2025 to March 31, 2026 is presented below:


	Number of RSUs Outstanding		Weighted Average Intrinsic Value at Date Granted

At January 1, 2025		336,929		$34.64

Granted (fair value - $4 million)		52,960		75.92

Released		(69,129)		44.78

Forfeited		(5,384)		43.86

At March 31, 2025		315,376		$39.19

Released		(72,396)		22.89

Forfeited		(1,100)		55.85

At December 31, 2025		241,880		$43.99

Granted (fair value - $4 million)		30,480		139.35

Released		(46,442)		50.81

At March 31, 2026		225,918		$55.45

18.3.

Long-Term Investment Revaluation Reserve

The Company’s long-term investments in common shares (Note 15) are held for long-term strategic purposes and not for trading purposes. The Company has chosen to designate these long-term investments in common shares as financial assets with fair value adjustments being recorded as a component of OCI as it believes that this provides a more meaningful presentation for long-term strategic investments, rather than reflecting changes in fair value as a component of net earnings. As some of these long-term investments are denominated in Canadian dollars, changes in their fair value is affected by both the change in share price in addition to changes in the Cdn$/US$ exchange rate.

Where the fair value of a long-term investment in common shares held exceeds its tax cost, the Company recognizes a deferred income tax liability. To the extent that the value of the long-term investment subsequently declines, the deferred income tax liability is reduced. However, where the fair value of the long-term investment decreases below the tax cost, the Company does not recognize a deferred income tax asset on the unrealized capital loss unless it is probable that the Company will generate future capital gains that will offset the loss.

A continuity schedule of the Company’s long-term investment revaluation reserve from January 1, 2025 to March 31, 2026 is presented below:


(in thousands)	Change in Fair Value			Deferred Tax Recovery (Expense)		Total

At January 1, 2025	$	(95,675)		$	(48)	$	(95,723)

Unrealized gain (loss) on LTIs ¹		26,161			(2,351)		23,810

At March 31, 2025	$	(69,514)		$	(2,399)	$	(71,913)

Unrealized gain (loss) on LTIs ¹		236,566			(20,052)		216,514

At December 31, 2025	$	167,052		$	(22,451)	$	144,601

Unrealized gain (loss) on LTIs ¹		63,463			(8,567)		54,896

Reallocate reserve to retained earnings upon disposal of LTIs ¹		(151,519	)		20,375		(131,144)

At March 31, 2026	$	78,996		$	(10,643)	$	68,353

1)	LTIs refers to long-term investments in common shares held.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [22]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

19.

Share Based Compensation

The Company’s share based compensation consists of share purchase options (Note 18.1), restricted share units (Note 18.2) and performance share units (Note 19.1). The accrued value of share purchase options and restricted share units are reflected as reserves in the shareholder’s equity section of the Company’s balance sheet while the accrued value associated with performance share units is reflected as an accrued liability.

19.1.

Performance Share Units (“PSUs”)

The Company has established a Performance Share Unit Plan (“the PSU plan”) whereby PSUs will be issued to eligible employees as determined by the Company’s Board of Directors or the Company’s Compensation Committee. PSUs issued under the PSU plan entitle the holder to a cash payment at the end of a three year performance period equal to the number of PSUs granted, multiplied by a performance factor and multiplied by the fair market value of a Wheaton common share on the expiry of the performance period. The performance factor can range from 0% to 200% and is determined by comparing the Company’s total shareholder return (“TSR”) to those achieved by various peer companies and the price of gold and silver.

Compensation expense for the PSUs is recorded on a straight-line basis over the three year vesting period. The amount of compensation expense is adjusted at the end of each reporting period to reflect (i) the fair value of common shares; (ii) the number of PSUs anticipated to vest; and (iii) the anticipated performance factor.

A continuity schedule of the Company’s outstanding PSUs (assuming a performance factor of 100% is achieved over the performance period) and the Company’s PSU accrual from January 1, 2025 to March 31, 2026 is presented below:


(in thousands, except for number of PSUs outstanding)	Number of PSUs Outstanding		PSU accrual liability

At January 1, 2025		378,970	$	25,084

Granted		78,390		-

Accrual related to the fair value of the PSUs outstanding		-		10,796

Foreign exchange adjustment		-		87

Paid		(118,240)		(17,209)

Forfeited		(890)		(40)

At March 31, 2025		338,230	$	18,718

Accrual related to the fair value of the PSUs outstanding		-		15,556

Foreign exchange adjustment		-		828

Forfeited		(3,560)		(283)

At December 31, 2025		334,670	$	34,819

Granted		43,340		-

Accrual related to the fair value of the PSUs outstanding		-		8,472

Foreign exchange adjustment		-		(312)

Paid		(123,700)		(29,257)

Forfeited		(230)		(6)

At March 31, 2026		254,080	$	13,716

A summary of the PSUs outstanding at March 31, 2026 is as follows:


Year of Grant		Year of Maturity		Number Outstanding		Estimated Value Per PSU at Maturity		Anticipated Performance Factor at Maturity		Percent of Service Period Completed at Mar 31, 2026		PSU Liability at Mar 31, 2026
	2024		2027		133,400		$132.18		99%		70%	$	12,216
	2025		2028		77,340		$105.57		41%		43%		1,430
	2026		2029		43,340		$129.58		99%		1%		71

					254,080							$	13,717

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [23]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

20.

Earnings per Share (“EPS”) and Diluted Earnings per Share (“Diluted EPS”)

Diluted earnings per share is calculated using the treasury method which assumes that outstanding share purchase options, with exercise prices that are lower than the average market price of the Company’s common shares for the relevant period, are exercised and the proceeds are used to purchase shares of the Company at the average market price of the common shares for the relevant period.

Diluted EPS is calculated based on the following weighted average number of shares outstanding:


	Three Months Ended March 31

(in thousands)	2026		2025

Basic weighted average number of shares outstanding		454,044		453,692

Effect of dilutive securities

Share purchase options		671		407

Restricted share units		240		329

Diluted weighted average number of shares outstanding		454,955		454,428

The following table lists the number of share purchase options excluded from the computation of diluted earnings per share because the exercise prices exceeded the average market value of the common shares of Cdn$190.64, compared to Cdn$95.38 for the comparable period in 2025.

	Three Months Ended March 31

(in thousands)	2026		2025

Share purchase options		22		178

21.

Supplemental Cash Flow Information

Change in Non-Cash Working Capital


	Three Months Ended March 31

(in thousands)	2026		2025

Change in non-cash working capital

Accounts receivable	$	28,022	$	(1,407)

Accounts payable and accrued liabilities		(9,059)		(6,599)

Other		(187)		264

Total change in non-cash working capital	$	18,776	$	(7,742)

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [24]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

Cash and Cash Equivalents


(in thousands)	March 31 2026		December 31 2025
Cash and cash equivalents comprised of:

Cash	$	2,164,505	$	999,311

Cash equivalents		-		154,282

Total cash and cash equivalents	$	2,164,505	$	1,153,593

Cash equivalents include short-term deposits, treasury bills, bankers’ depository notes and bankers’ acceptances with terms to maturity at inception of less than three months.

22.

Income Taxes

A summary of the Company’s income tax expense (recovery) is as follows:

Income Tax Expense (Recovery) in Net Earnings


	Three Months Ended March 31

(in thousands)	2026		2025
Current income tax expense (recovery)	$	(8,308)	$	44
Global minimum income tax expense		96,443		45,066
Total current income tax expense	$	88,135	$	45,110

Total deferred income tax expense (recovery)	$	20,945	$	(2,331)

Total income tax expense recognized in net earnings	$	109,080	$	42,779

Effective tax rate		16%		14%

23.

Other Long-Term Assets

The composition of other long-term assets is shown below:



(in thousands)	Note		March 31 2026		December 31 2025

Intangible assets			$	1,024	$	1,120

Debt issue costs - Revolving Facility		16.1		4,369		4,702

Refundable deposit - 777 PMPA				10,363		10,163

Other				3,584		542

Total other long-term assets			$	19,340	$	16,527

Refundable Deposit – 777 PMPA

On August 8, 2012, the Company entered into a PMPA with Hudbay in respect to the 777 mine. Under the terms of the 777 PMPA, should the market value of gold and silver delivered to Wheaton through the initial 40 year term of the contract, net of the per ounce cash payment, be lower than the initial $455 million upfront consideration, the Company is entitled to a refund of the difference (the “Refundable Deposit”) at the conclusion of the 40 year term. On June 22, 2022, Hudbay announced that mining activities at the 777 mine have concluded after the reserves were depleted and closure activities have commenced. The undiscounted balance of the Refundable Deposit is $78 million.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [25]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

24.

Contractual Obligations and Commitments

Mineral Stream Interests

The following tables summarize the Company’s commitments to make per ounce or per pound cash payments for gold, silver, palladium, platinum and cobalt to which it has the contractual right pursuant to the PMPAs:

Per Ounce Cash Payment for Gold

Mineral Stream Interests

Attributable
Payable Production
to be Purchased

Per Ounce Cash
Payment ¹

Term of
Agreement

Date of
Original
Contract

Constancia

50%

429 ²

Life of Mine

8-Aug-12

Salobo

75%

433

Life of Mine

28-Feb-13

Sudbury

70%

400

20 years

28-Feb-13

San Dimas

variable ³

643

Life of Mine

10-May-18

Stillwater

100%

18% ⁴

Life of Mine

16-Jul-18

Blackwater

8% ⁵

35%

Life of Mine

13-Dec-21

Platreef

62.5% ⁵

100 ⁵

Life of Mine ⁵

7-Dec-21 ⁷

Other

Copper World

100%

450

Life of Mine

10-Feb-10

Marmato

10.5% ⁵

18% ⁴

Life of Mine

5-Nov-20

Santo Domingo

100% ⁵

18% ⁴

Life of Mine

24-Mar-21

Fenix

22% ⁵

20%

Life of Mine

15-Nov-21

El Domo

50% ⁵

18% ⁴

Life of Mine

17-Jan-22

Marathon

100% ⁵

18%⁴

Life of Mine

26-Jan-22

Goose

2.78% ⁵

18% ⁴

Life of Mine

8-Feb-22

Cangrejos

4.4% ⁵

18% ⁴

Life of Mine

16-May-23

Curraghinalt

3.05% ⁵

18% ⁴

Life of Mine

15-Nov-23

Kudz Ze Kayah

7.375%⁵

20%

Life of Mine

22-Dec-21

⁷

Koné

19.5% ⁵

20% ⁸

Life of Mine

23-Oct-24

Kurmuk

6.7% ⁵

15%

Life of Mine

5-Dec-24

Spring Valley

8% ⁵

20% ⁴

Life of Mine

6-Nov-25

Hemlo

10.13%⁵

20%

Life of Mine

26-Nov-25

Early Deposit

Toroparu

10%

400

Life of Mine

11-Nov-13

Cotabambas

25% ⁵

450

Life of Mine

21-Mar-16

Kutcho

100%

20%

Life of Mine

14-Dec-17

The production payment is measured as either a fixed amount per ounce of gold delivered, or as a percentage of the spot price of gold on the date of delivery. Contracts where the payment is a fixed amount per ounce of gold delivered are subject to an annual inflationary increase, with the exception of Sudbury. Additionally, should the prevailing market price for gold be lower than this fixed amount, the per ounce cash payment will be reduced to the prevailing market price, subject to an annual inflationary factor.

2)	Subject to an increase to $550 per ounce of gold after the initial 40-year term.

Under the terms of the San Dimas PMPA, the Company is entitled to an amount equal to 25% of the payable gold production plus an additional amount of gold equal to 25% of the payable silver production converted to gold at a fixed gold to silver exchange ratio of 70:1 from the San Dimas mine. If the average gold to silver price ratio decreases to less than 50:1 or increases to more than 90:1 for a period of 6 months or more, then the “70” shall be revised to “50” or “90”, as the case may be, until such time as the average gold to silver price ratio is between 50:1 to 90:1 for a period of 6 months or more in which event the “70” shall be reinstated. Currently, the fixed gold to silver exchange ratio is 70:1.

4)	To be increased to 22% once the market value of all metals delivered to Wheaton, net of the per ounce cash payment, exceeds the initial upfront cash deposit.

5)	Under certain PMPAs, the Company’s attributable gold percentage will be reduced once certain thresholds are achieved:

Blackwater – reduced to 4% once the Company has received 464,000 ounces of gold.

Platreef - reduced to 50% once the Company has received 218,750 ounces of gold, with a further reduction to 3.125% once the Company has received 428,300 ounces, at which point the per ounce cash payment increases to 80% of the spot price of gold. If certain thresholds are met, including if production through the Platreef project concentrator achieves 5.5 Mtpa, the 3.125% residual gold stream will terminate.

Marmato – reduced to 5.25% once Wheaton has received 310,000 ounces of gold.

Santo Domingo – reduced to 67% once the Company has received 285,000 ounces of gold.

El Domo – reduced to 33% once the Company has received 145,000 ounces of gold.

Marathon – reduced to 67% once the Company has received 150,000 ounces of gold.

Goose – reduced to 1.44% once the Company has received 87,100 ounces of gold, with a further reduction to 1% once the Company has received 134,000 ounces.

Cangrejos – reduced to 2.9% once the Company has received 469,000 ounces of gold.

Curraghinalt – reduced to 1.5% once the Company has received 125,000 ounces of gold.

Koné - reduced to 10.8% once the Company has received 400,000 ounces of gold, subject to adjustment if there are delays in deliveries relative to an agreed schedule, with a further reduction to 5.4% once the Company has received an additional 130,000 ounces of gold.

Kurmuk – reduced to 4.8% once the Company has received 220,000 ounces of gold. During any period in which debt exceeding $150 million ranks ahead of the gold stream, the stream percentage increases to 7.15% and decreases to 5.25% once the drop down threshold is reached.

Kudz Ze Kayah – reduced to 6.125% once the Company has received 330,000 ounces of gold, with a further reduction to 5.5% until the Company has received an additional 59,800 ounces of gold, with a further reduction to 5.5% until the Company has received an additional 270,200 ounces of gold, thereafter increased to 6.75%.

Cotabambas – reduced to 16.67% once the Company has received 90 million silver equivalent ounces.

Spring Valley – reduced to 6% once the Company has received 300,000 ounces of gold.

Hemlo – reduced to 6.75% once the Company has received 135,750 ounces of gold (the “First Dropdown Threshold”), with a further reduction to 4.5% once the Company has received an additional 117,998 ounces of gold (the “Second Dropdown Threshold”), at which point this rate will apply for the life of the mine. Each of

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [26]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

the First Dropdown Threshold and the Second Dropdown Threshold will be subject to adjustment if there are delays in deliveries relative to an agreed schedule, and commencing in 2033, if deliveries fall behind the agreed schedule by 10,000 ounces or more, the stream percentage will be increased by 5% until deliveries catch up with the agreed schedule. The payable gold will be reduced by half with respect to gold production from certain claims comprising the Interlake deposit

On October 21, 2024, the Company amended the Fenix PMPA. Under the original agreement, the Company was to acquire an amount of gold equal to 6% of the gold production until 90,000 ounces have been delivered, 4% of the gold production until the delivery of a further 140,000 ounces and 3.5% gold production thereafter for the life of mine. Under the revised agreement, the Company is entitled to purchase an additional 16% of payable gold production (22% in total) (subject to adjustment if there are delays in deliveries relative to an agreed schedule). Once Rio2 delivers the incremental 95,000 ounces (as adjusted), the stream reverts to the percentages and thresholds under the original Fenix PMPA (as described). Rio2 has a one-time option to terminate the requirement to deliver the incremental gold production from the end of 2027 until the end of 2029 by delivering 95,000 ounces (as adjusted) less previously delivered gold ounces, excluding those gold ounces which would have been delivered under the original Fenix PMPA.

7)	On February 27, 2024, the Company closed the Orion Purchase Agreement to acquire the Platreef and Kudz Ze Kayah PMPAs.

8)	Until October 23, 2029, there is a price adjustment mechanism under the Koné PMPA

if the spot price of gold is less than $2,100 per ounce, the Company will pay 20% of $2,100 less 25% of the difference between $2,100 and $1,800, less 30% of the difference between $1,800 and the spot price of gold; and

if the spot price is greater than $2,700 per ounce, the Company will pay 25% of the difference between $3,000 and $2,700, plus 30% of the difference between the actual spot price of gold and $3,000.

Per Ounce Cash Payment for Silver

Mineral Stream Interests

Attributable Payable
Production to be
Purchased

Per Ounce Cash
Payment ¹

Term of

Agreement

Date of
Original
Contract

Peñasquito

25%

4.62

Life of Mine

24-Jul-07

Constancia

100%

6.32 ²

Life of Mine

8-Aug-12

Antamina

67.5% ⁵

20%

Life of Mine

3-Nov-15

Blackwater

50% ⁵

18%⁷

Life of Mine

13-Dec-21

Other

Los Filos

100%

4.81

25 years

15-Oct-04

Zinkgruvan

100%

4.81

Life of Mine

8-Dec-04

Stratoni

100%

11.54

Life of Mine

23-Apr-07

Neves-Corvo

100%

4.55

50 years

5-Jun-07

Aljustrel

100% ³

50%

50 years

5-Jun-07

El Alto

25%

3.90

Life of Mine

8-Sep-09

Copper World

100%

3.90

Life of Mine

10-Feb-10

Loma de La Plata

12.5%

4.00

Life of Mine

n/a

⁴

Marmato

100% ⁵

18% ⁶

Life of Mine

5-Nov-20

Cozamin

50% ⁵

10%

Life of Mine

11-Dec-20

El Domo

75%

18% ⁶

Life of Mine

17-Jan-22

Mineral Park

100%

18% ⁶

Life of Mine

24-Oct-23

Kudz Ze Kayah

7.375% ⁵

20%

Life of Mine

22-Dec-21

⁷

Early Deposit

Toroparu

50%

3.90

Life of Mine

11-Nov-13

Cotabambas

100%⁵

5.90

Life of Mine

21-Mar-16

Kutcho

100%

20%

Life of Mine

14-Dec-17

The production payment is measured as either a fixed amount per unit of silver delivered, or as a percentage of the spot price of silver on the date of delivery. Contracts where the payment is a fixed amount per ounce of silver delivered are subject to an annual inflationary increase, with the exception of Loma de La Plata. Additionally, should the prevailing market price for silver be lower than this fixed amount, the per ounce cash payment will be reduced to the prevailing market price, subject to an annual inflationary factor.

2)	Subject to an increase to $9.90 per ounce of silver after the initial 40-year term.

3)	Wheaton only has the rights to silver contained in concentrate containing less than 15% copper at the Aljustrel mine.

4)	Terms of the agreement not yet finalized.

5)	Under certain PMPAs, the Company’s attributable silver percentage will be reduced once certain thresholds are achieved:

Antamina – reduced to 45%, comprised of 22.5% once the Company has received 140 million ounces of silver under the Glencore Antamina PMPA and 22.5% once the Company has received 100 million ounces of silver under the BHP Antamina PMPA, respectively.

Blackwater – reduced to 33% once the Company has received 17.8 million ounces of silver.

Marmato – reduced to 50% once the Company has received 2.15 million ounces of silver.

Cozamin – reduced to 33% once the Company has received 10 million ounces of silver.

Cotabambas – reduced to 66.67% once the Company has received 90 million silver equivalent ounces.

Kudz Ze Kayah - reduced to 6.125% once the Company has received 43.30 million ounces of silver, with a further reduction to 5.5% until the Company has received an additional 7.96 million ounces of silver, with a further reduction to 5.5% until the Company has received an additional 35.34 million ounces of silver, thereafter increased to 6.75%.

6)	To be increased to 22% once the total market value of all metals delivered to the Company, net of the per ounce cash payment, exceeds the initial upfront cash deposit.

7)	On February 27, 2024, the Company closed the Orion Purchase Agreement to acquire the Platreef and Kudz Ze Kayah PMPAs.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [27]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

Per Ounce Cash Payment for Palladium and Platinum and Per Pound for Cobalt

Mineral Stream Interests

Attributable
Payable
Production to be
Purchased

Per Unit of
Measurement Cash
Payment ¹

Term of

Agreement

Date of

Original

Contract

Palladium

Stillwater

4.5% ²

18% ³

Life of Mine

16-Jul-18

Platreef

5.25% ²

30% ²

Life of Mine ²

7-Dec-21 ⁴

Platinum

Marathon

22% ²

18% ³

Life of Mine

26-Jan-22

Platreef

5.25% ²

30% ²

Life of Mine ²

7-Dec-21 ⁴

Cobalt

Voisey’s Bay

42.4% ²

18% ³

Life of Mine

11-Jun-18

1)	The production payment is measured as either a fixed amount per unit of metal delivered, or as a percentage of the spot price of the underlying metal on the date of delivery.

2)	Under certain PMPAs, the Company’s attributable metal percentage will be reduced once certain thresholds are achieved:

Stillwater – reduced to 2.25% once the Company has received 375,000 ounces of palladium, with a further reduction to 1% once the Company has received 550,000 ounces.

Platreef – reduced to 3% once the Company has received 350,000 ounces of combined palladium and platinum, with a further reduction to 0.1% once the Company has received a combined 485,115 ounces, at which point the per ounce cash payment increases to 80% of the spot price of palladium and platinum. If certain thresholds are met, including if production through the Platreef project concentrator achieves 5.5 Mtpa, the 0.1% residual palladium and platinum stream will terminate.

Marathon – reduced to 15% once the Company has received 120,000 ounces of platinum.

Voisey’s Bay – reduced to 21.2% once the Company has received 31 million pounds of cobalt.

3)	To be increased to 22% once the market value of all metals delivered to Wheaton, net of the per unit cash payment, exceeds the initial upfront cash deposit.

4)	On February 27, 2024, the Company closed the Orion Purchase Agreement to acquire the Platreef and Kudz Ze Kayah PMPAs.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [28]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

Other Contractual Obligations and Commitments


	Projected Payment Dates ¹

(in thousands)	2026		2027 - 2028		2029 - 2030		After 2030		Total

Payments for mineral stream interests & royalty

Antamina	$	4,300,000	$	-	$	-	$	-	$	4,300,000

Salobo		-		8,000		16,000		56,000		80,000

Copper World ²		-		231,151		-		-		231,151

Marmato		41,968		-		-		-		41,968

Santo Domingo		-		290,000		-		-		290,000

El Domo		87,750		43,875		-		-		131,625

Marathon		-		100,438		43,045		-		143,483

Cangrejos		-		84,420		84,420		-		168,840

Curraghinalt		-		-		-		55,000		55,000

Loma de La Plata		-		-		-		32,400		32,400

Spring Valley		210,000		360,000		-		-		570,000

Kudz Ze Kayah		-		15,000		-		-		15,000

Koné		156,250		-		-		-		156,250

Payments for early deposit mineral stream interest

Cotabambas		-		-		-		126,000		126,000

Toroparu		-		-		-		138,000		138,000

Kutcho		-		-		-		58,000		58,000
Leases liabilities		726		2,034		2,124		4,855		9,739

Total contractual obligations	$	4,796,694	$	1,134,918	$	145,589	$	470,255	$	6,547,456

1)	Projected payment date based on management estimate. Dates may be updated in the future as additional information is received.

2)	Figure includes contingent transaction costs of $1 million.

Antamina

Under the terms of the BHP Antamina PMPA, on April 1, 2026, the Company paid BHP a total upfront cash payment of $4.3 billion.

Salobo

The Company will be required to make annual payments of $8 million over a 10-year period, if the Salobo mine implements a high-grade mine plan. Payments will be made for each year in which the high-grade plan is achieved.

Copper World Complex

The Company is committed to pay Hudbay total upfront cash payments of $230 million in two installments, with the first $50 million being advanced upon Hudbay’s receipt of permitting for the Copper World Complex and other customary conditions and the balance of $180 million being advanced once project costs incurred on the Copper World Complex exceed $98 million and certain other customary conditions. Under the Copper World Complex PMPA, the Company is permitted to elect to pay the deposit in cash or the delivery of common shares. Additionally, the Company will be entitled to certain delay payments, including where construction ceases in any material respect, or if completion is not achieved within agreed upon timelines.

Marmato

Under the terms of the Marmato PMPA, the Company is committed to pay Aris Mining additional upfront cash payments of $42 million, payable during the construction of the Marmato Lower Mine development portion of the Marmato mine, subject to customary conditions.

Santo Domingo

On March 9, 2026, Capstone Copper Corp. (“Capstone”) made a temporary repayment of amounts previously advanced under the Santo Domingo PMPA, which ended Capstone’s requirement to make delay ounce payments

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [29]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

under the PMPA. As a result, under the terms of the Santo Domingo PMPA, the Company is committed to pay Capstone total upfront cash payments of $290 million, which is payable during the construction of the Santo Domingo project, subject to customary conditions being satisfied, including Capstone attaining sufficient financing to cover total expected capital expenditures.

El Domo

Under the terms of the El Domo PMPA, the Company is committed to pay additional upfront cash payments of $131.6 million, which includes $0.25 million which will be paid to support certain local community development initiatives around the El Domo project. The payments will be payable in three staged installments during construction, subject to various customary conditions being satisfied.

Marathon

Under the terms of the Marathon PMPA, the Company is committed to pay additional upfront cash payments of $143 million (Cdn$200 million), which is to be paid in four staged installments during construction of the Marathon project, subject to various customary conditions being satisfied.

Cangrejos

Under the terms of the Cangrejos PMPA, the Company is committed to pay additional upfront consideration of $169 million, which is to be paid in two staged equal installments during construction of the mine, subject to various customary conditions being satisfied.

Curraghinalt

Under the terms of the Curraghinalt PMPA, the Company is committed to pay additional upfront cash payments of $55 million to be paid to an affiliate of Dalradian Gold during construction of the Curraghinalt project.

Loma de La Plata

Under the terms of the Loma de La Plata PMPA, the Company is committed to pay Pan American Silver Corp., (“PAAS”) total upfront cash payments of $32 million following the satisfaction of certain conditions, including PAAS receiving all necessary permits to proceed with the mine construction and the Company finalizing the definitive terms of the PMPA.

Spring Valley

Under the terms of the Spring Valley PMPA, the Company is committed to pay Waterton Gold Corp. (“Waterton Gold”) additional upfront cash payments of $570 million in installments as various conditions are satisfied. The Company has also provided a cost overrun facility (the “Spring Valley Facility”) of up to $150 million, accessible during an availability period commencing once the full upfront consideration has been paid under the Spring Valley PMPA. The Spring Valley Facility has a maturity date of three years following the first drawdown under the Spring Valley Facility.

Mineral Park

The Company has entered into a loan agreement to provide a secured debt facility of up to $25 million to Origin Mining Company, LLC, the Mineral Park owner and affiliate of Waterton Copper, to help support the mine construction, if necessary, once the full upfront consideration under the stream has been paid. On April 2, 2026, $10 million was advanced under this facility.

Kudz Ze Kayah

Under the terms of the amended KZK PMPA, an additional $15 million contingency payment is due to BCM if the KZK project achieves certain permitting milestones.

Koné

Under the terms of the Koné PMPA, the Company is committed to pay one additional upfront cash payment of $156 million during construction, subject to certain customary conditions. The Company has also provided Montage Gold Corp., with a secured debt facility of up to $75 million to be allocated to project costs, including cost overruns, prior to completion of construction and once the full upfront consideration under the Koné PMPA has been paid.

Cotabambas

Under the terms of the Cotabambas Early Deposit Agreement, the Company is committed to pay Panoro Minerals Ltd., additional upfront cash payments of $126 million. Following the delivery of a bankable definitive feasibility study, environmental study and impact assessment, and other related documents (collectively, the “Cotabambas Feasibility Documentation”), and receipt of permits and construction commencing, the Company may then advance the remaining deposit or elect to terminate the Cotabambas Early Deposit Agreement. If the Company elects to

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [30]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

terminate, the Company will be entitled to a return of the portion of the amounts advanced less $2 million payable upon certain triggering events occurring.

Toroparu

Under the terms of the Toroparu Early Deposit Agreement, the Company is committed to pay a subsidiary of Aris Mining an additional $138 million, payable on an installment basis to partially fund construction of the mine. Aris Mining is to deliver certain feasibility documentation. Prior to the delivery of this feasibility documentation, Wheaton may elect to (i) not proceed with the agreement or (ii) not pay the balance of the upfront consideration and reduce the gold stream percentage from 10% to 0.909% and the silver stream percentage from 50% to nil. If option (i) is chosen, Wheaton will be entitled to a return of the amounts advanced less $2 million. If Wheaton elects option (ii), Aris Mining may elect to terminate the agreement and Wheaton will be entitled to a return of the amount of the deposit already advanced less $2 million.

Kutcho

Under the terms of the Kutcho Early Deposit Agreement, the Company is committed to pay Kutcho additional upfront cash payments of $58 million, which will be advanced on an installment basis to partially fund construction of the mine once certain conditions have been satisfied.

Tax Contingencies

Due to the size, complexity and nature of the Company’s operations, various legal and tax matters are outstanding from time to time, including audits and disputes.

Under the terms of the settlement with the CRA of the transfer pricing dispute relating to the 2005 to 2010 taxation years (the “CRA Settlement”), income earned outside of Canada by the Company’s foreign subsidiaries will not be subject to tax in Canada under transfer pricing rules. The CRA Settlement principles apply to all taxation years after 2010 subject to there being no material change in facts or change in law or jurisprudence. Bill C-15, Budget 2025 Implementation Act, No.1, which was brought into force effective March 26, 2026, contains amendments to the existing transfer pricing regime under the Tax Act, which could have an impact on the application of the CRA Settlement to taxation years after 2025. For fiscal years after 2025, the Company expects to apply the same transfer pricing methodology and achieve a consistent outcome with past periods.

The CRA is not restricted under the terms of the CRA Settlement from issuing reassessments on some basis other than transfer pricing which could result in some or all of the income of the Company’s foreign subsidiaries being subject to tax in Canada.

It is not known or determinable by the Company when any ongoing audits by CRA of international and domestic transactions will be completed, or whether reassessments will be issued, or the basis, quantum or timing of any such potential reassessments, and it is therefore not practicable for the Company to estimate the financial effect, if any, of any ongoing audits. From time to time there may also be proposed legislative changes to law or outstanding legal actions that may have an impact on the current or prior periods, the outcome, applicability and impact of which is also not known or determinable by the Company.

General

By their nature, contingencies will only be resolved when one or more future events occur or fail to occur. The assessment of contingencies inherently involves the exercise of significant judgment and estimates of the outcome of future events. If the Company is unable to resolve any of these matters favorably, there may be a material adverse impact on the Company’s financial performance, cash flows or results of operations. In the event that the Company’s estimate of the future resolution of any of the foregoing matters changes, the Company will recognize the effects of the change in its consolidated financial statements in the appropriate period relative to when such change occurs.

25.

Segmented Information

Operating Segments

The Company’s reportable operating segments, which are the components of the Company’s business where discrete financial information is available and which are evaluated on a regular basis by the Company’s Chief Executive Officer (“CEO”), who is the Company’s chief operating decision maker, for the purpose of assessing performance, are summarized in the tables below:

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [31]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)


Three Months Ended March 31, 2026
(in thousands)	Sales		Cost of Sales		Depletion		Net Earnings		Cash Flow From Operations		Total Assets

Gold

Salobo	$	284,180	$	25,414	$	23,713	$	235,053	$	262,007	$	2,596,997

Sudbury ¹		21,533		1,765		6,172		13,596		19,852		212,322

Constancia		52,725		4,669		3,683		44,373		48,056		48,601

San Dimas		37,148		4,934		3,285		28,929		32,214		121,933

Stillwater		6,752		1,215		795		4,742		5,537		203,407

Blackwater		23,984		8,424		2,978		12,582		13,745		328,070

Platreef		-		-		-		-		-		275,702

Other ²		34,716		7,970		8,624		18,122		28,260		1,504,930

Total gold interests	$	461,038	$	54,391	$	49,250	$	357,397	$	409,671	$	5,291,962

Silver

Peñasquito	$	121,955	$	6,672	$	7,350	$	107,933	$	115,283	$	199,516

Antamina		127,014		26,830		6,606		93,578		100,184		452,486

Constancia		56,944		4,261		4,333		48,350		52,682		147,070

Blackwater		10,246		1,762		957		7,527		8,355		166,545

Other ³		110,611		28,812		4,143		77,656		107,848		555,952

Total silver interests	$	426,770	$	68,337	$	23,389	$	335,044	$	384,352	$	1,521,569

Palladium

Stillwater	$	4,909	$	901	$	1,430	$	2,578	$	4,008	$	207,462

Platreef		-		-		-		-		-		78,814

Total palladium interests	$	4,909	$	901	$	1,430	$	2,578	$	4,008	$	286,276

Platinum

Marathon	$	-	$	-	$	-	$	-	$	-	$	9,451

Platreef		-		-		-		-		-		57,584

Total platinum interests	$	-	$	-	$	-	$	-	$	-	$	67,035

Cobalt

Voisey’s Bay	$	8,752	$	1,614	$	2,783	$	4,355	$	6,497	$	213,094

Total mineral stream interests	$	901,469	$	125,243	$	76,852	$	699,374	$	804,528	$	7,379,936

Other

General and administrative							$	(12,971)	$	(20,267)

Share based compensation								(10,113)		(29,257)

Donations and community investments								(1,497)		(1,407)

Finance costs								(1,405)		(1,071)

Other								17,736		13,479

Income tax								(109,080)		(182)

Total other							$	(117,330)	$	(38,705)	$	2,466,259

Consolidated							$	582,044	$	765,823	$	9,846,195

1)	Comprised of the operating Coleman, Copper Cliff, Garson, Creighton, Stobie and Totten gold interests as well as the non-operating Victor gold interest.

Where a gold interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and is not evaluated on a regular basis by the Company’s CEO for the purpose of assessing performance, the gold interest has been summarized under Other gold interests. Other gold interests comprised of the Copper World, Marmato, Santo Domingo, Fenix, El Domo, Marathon, Goose, Cangrejos, Curraghinalt, Kudz Ze Kayah, Koné, Kurmuk, Spring Valley and Hemlo gold interests.

Where a silver interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and is not evaluated on a regular basis by the Company’s CEO for the purpose of assessing performance, the silver interest has been summarized under Other silver interests. Other silver interests comprised of the Los Filos, Zinkgruvan, Stratoni, Neves-Corvo, Aljustrel, El Alto, Copper World, Navidad, Marmato, Cozamin , El Domo, Mineral Park and Kudz Ze Kayah silver interests.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [32]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)


Three Months Ended March 31, 2025
(in thousands)	Sales		Cost of Sales		Depletion		Net Earnings		Cash Flow From Operations		Total Assets

Gold

Salobo	$	240,804	$	35,942	$	31,691	$	173,171	$	204,863	$	2,563,794

Sudbury ¹		16,118		2,253		7,467		6,398		13,850		234,084

Constancia		28,123		4,156		3,159		20,808		23,967		61,167

San Dimas		25,751		5,708		2,598		17,445		20,043		133,882

Stillwater		5,594		968		819		3,807		4,626		206,642

Blackwater		314		112		68		134		202		340,163

Platreef		-		-		-		-		-		275,702

Other ²		2,992		1,237		388		1,367		2,619		389,864

Total gold interests	$	319,696	$	50,376	$	46,190	$	223,130	$	270,170	$	4,205,298

Silver

Peñasquito	$	63,271	$	9,008	$	9,597	$	44,666	$	54,262	$	234,868

Antamina		28,311		5,663		7,479		15,169		22,647		483,292

Constancia		23,375		4,569		4,455		14,351		18,806		160,923

Blackwater		-		-		-		-		-		170,926

Other ³		29,980		3,946		5,489		20,545		23,069		556,241

Total silver interests	$	144,937	$	23,186	$	27,020	$	94,731	$	118,784	$	1,606,250

Palladium

Stillwater	$	2,372	$	423	$	1,054	$	895	$	1,949	$	212,125

Platreef		-		-		-		-		-		78,814

Total palladium interests	$	2,372	$	423	$	1,054	$	895	$	1,949	$	290,939

Platinum

Marathon	$	-	$	-	$	-	$	-	$	-	$	9,451

Platreef		-		-		-		-		-		57,584

Total platinum interests	$	-	$	-	$	-	$	-	$	-	$	67,035

Cobalt

Voisey’s Bay	$	3,406	$	650	$	2,429	$	327	$	3,962	$	228,260

Total mineral stream interests	$	470,411	$	74,635	$	76,693	$	319,083	$	394,865	$	6,397,782

Other

General and administrative							$	(13,525)	$	(19,379)

Share based compensation								(12,181)		(17,209)

Donations and community investments								(2,693)		(2,879)

Finance costs								(1,441)		(1,161)

Other								7,520		8,790

Income tax								(42,779)		(2,234)

Total other							$	(65,099)	$	(34,072)	$	1,341,515

Consolidated							$	253,984	$	360,793	$	7,739,297

1)	Comprised of the operating Coleman, Copper Cliff, Garson, Creighton and Totten gold interests as well as the non-operating Stobie and Victor gold interests.

Where a gold interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and is not evaluated on a regular basis by the Company’s CEO for the purpose of assessing performance, the gold interest has been summarized under Other gold interests. Other gold interests comprised of the Marmato, Copper World, Santo Domingo, Fenix, El Domo, Marathon, Goose, Cangrejos, Curraghinalt, Kudz Ze Kayah, Koné and Kurmuk gold interests.

Where a silver interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and is not evaluated on a regular basis by the Company’s CEO for the purpose of assessing performance, the silver interest has been summarized under Other silver interests. Other silver interests comprised of the Los Filos, Zinkgruvan, Neves-Corvo, Marmato, Cozamin, Stratoni, Aljustrel, El Alto, Copper World, Navidad, El Domo, Mineral Park and Kudz Ze Kayah silver interests.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [33]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

Geographical Areas

The Company’s geographical information, which is based on the location of the mining operations to which the mineral stream interests relate, are summarized in the tables below:


	Sales					Carrying Amount at March 31, 2026

(in thousands)	Three Months Ended Mar 31, 2026			Gold Interests		Silver Interests		Palladium Interests		Platinum Interests		Cobalt Interests		Total

North America

Canada	$	92,907	10%	$	658,490	$	193,220	$	-	$	9,451	$	213,094	$	1,074,255	15	%

United States		14,086	2%		203,409		116,495		207,462		-		-		527,366	7	%

Mexico		172,228	19%		121,931		288,877		-		-		-		410,808	6	%

Europe

Portugal		64,421	7%		-		15,004		-		-		-		15,004	0	%

Sweden		31,290	3%		-		22,790		-		-		-		22,790	0	%

United Kingdom		-	0%		20,376		-		-		-		-		20,376	0	%

South America

Argentina/Chile ¹		-	0%		-		253,518		-		-		-		253,518	3	%

Argentina		-	0%		-		10,889		-		-		-		10,889	0	%

Chile		1,523	0%		145,484		-		-		-		-		145,484	2	%

Brazil		284,181	32%		2,596,997		-		-		-		-		2,596,997	35	%

Peru		236,683	27%		48,601		599,551		-		-		-		648,152	9	%

Ecuador		-	0%		65,186		11,749		-		-		-		76,935	1	%

Colombia		4,150	0%		115,827		9,476		-		-		-		125,303	2	%

Africa

Côte d’Ivoire		-	0%		470,174		-		-		-		-		470,174	6	%

Ethiopia		-	0%		569,785		-		-		-		-		569,785	8	%

South Africa		-	0%		275,702		-		78,814		57,584		-		412,100	6	%

Consolidated	$	901,469	100%	$	5,291,962	$	1,521,569	$	286,276	$	67,035	$	213,094	$	7,379,936	100	%

1)	Includes the El Alto project, which straddles the border of Argentina and Chile.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [34]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)


	Sales					Carrying Amount at December 31, 2025

(in thousands)	Three Months Ended Mar 31, 2025			Gold Interests		Silver Interests		Palladium Interests		Platinum Interests		Cobalt Interests		Total

North America

Canada	$	19,838	4%	$	669,263	$	194,177	$	-	$	9,451	$	215,877	$	1,088,768	17	%

United States		7,966	2%		204,204		116,510		208,892		-		-		529,606	8	%

Mexico		96,092	20%		125,215		299,441		-		-		-		424,656	8	%

Europe

Portugal		7,433	2%		-		15,373		-		-		-		15,373	0	%

Sweden		15,205	3%		-		23,136		-		-		-		23,136	0	%

United Kingdom		-	0%		20,376		-		-		-		-		20,376	0	%

South America

Argentina/Chile ¹		-	0%		-		253,514		-		-		-		253,514	4	%

Argentina		-	0%		-		10,889		-		-		-		10,889	0	%

Chile		875	0%		176,947		-		-		-		-		176,947	1	%

Brazil		240,804	51%		2,620,710		-		-		-		-		2,620,710	41	%

Peru		79,810	17%		52,285		610,481		-		-		-		662,766	11	%

Ecuador		-	0%		65,046		11,714		-		-		-		76,760	1	%

Colombia		2,388	1%		78,931		6,506		-		-		-		85,437	1	%

Africa

Côte d’Ivoire		-	0%		470,106		-		-		-		-		470,106	0	%

Ethiopia		-	0%		526,005		-		-		-		-		526,005	1	%

South Africa		-	0%		275,702		-		78,814		57,584		-		412,100	7	%

Consolidated	$	470,411	100%	$	5,284,790	$	1,541,741	$	287,706	$	67,035	$	215,877	$	7,397,149	100	%

1)	Includes the El Alto project, which straddles the border of Argentina and Chile.

26.

Subsequent Events

Declaration of Dividend

Under the Company’s dividend policy, the quarterly dividend is fixed at $0.195 per common share for 2026. The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors.

On May 7, 2026, the Board of Directors declared a dividend in the amount of $0.195 per common share, with this dividend being payable to shareholders of record on May 27, 2026 and is expected to be distributed on or about June 9, 2026. The Company has implemented a dividend reinvestment plan (“DRIP”) whereby shareholders can elect to have dividends reinvested directly into additional Wheaton common shares based on the Average Market Price, as defined in the DRIP.

Acquisition of Mineral Stream Interest - Jervois

On April 1, 2026, the Company entered into a PMPA with KGL (the “Jervois PMPA”) for a portion of the gold and silver produced at the Jervois Project located in Australia. In return, the Company also obtained a right of first refusal on any future precious metal streams, royalties, prepays or similar transactions with respect to the Jervois project. Under the terms of the Jervois PMPA, the Company will pay KGL total upfront cash consideration of $275 million, subject to certain customary conditions. The upfront cash consideration will be paid in a total of six installments, with the first two installments of $16 million each to be made as early deposit payments, once certain conditions are satisfied, and are expected to be paid in the second and third calendar quarters of 2026. The remaining balance of $243 million will be paid in four equal installments over the construction period as various conditions are satisfied. Additionally, the Company will make ongoing payments for the gold and silver ounces delivered equal to 20% of the spot price of gold and silver.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [35]

Notes to the Condensed Interim Consolidated Financial Statements

Three Months Ended March 31, 2026 (US Dollars)

Under the terms of the Jervois PMPA, the Company will purchase:

●

75% of the payable gold until a total of 45,000 ounces has been delivered (the “First Gold Dropdown Threshold”), at which point the Company will purchase 37.5% of the payable gold until an additional 15,000 ounces has been delivered (the “Second Gold Dropdown Threshold”), at which point the Company will purchase 25% of the payable gold for the life of mine.

●

75% of the payable silver until a total of approximately 4.3 million ounces (“Moz”) has been delivered (the “First Silver Dropdown Threshold”), at which point the Company will purchase 37.5% of the payable silver until an additional 1.7 Moz has been delivered (the “Second Silver Dropdown Threshold”), at which point the Company will purchase 25% of the payable silver for the life of mine.

●

Each of the First Gold Dropdown Threshold and First Silver Dropdown Threshold will be subject to adjustment if there are delays in deliveries relative to an agreed schedule.

Payable gold and silver are calculated using a fixed payability factor of 90%.

Acquisition of Royalty Interest Spanish Mountain

On April 20, 2026, the Company entered into a Royalty Agreement with Spanish Mountain Gold Limited (“Spanish Mountain Gold”) for a 1.5% net smelter returns royalty on gold and silver production from the Spanish Mountain Gold project (the “Spanish Mountain Royalty”). In return, the Company also obtained a right of first refusal on any future precious metal streams, royalties, prepays or similar transactions with respect to the Spanish Mountain Gold project. Under the terms of the Spanish Mountain Royalty, the Company will pay Spanish Mountain Gold total upfront cash consideration of $55 million, subject to certain customary conditions. The upfront cash consideration will be paid in three installments consisting of a $22.5 million payment made on May 1, 2026, a $12.5 million payment due after 60,000 meters of drilling (expected to be made during Q2-2026), and a $20 million payment due upon receiving approval under the Environmental Assessment Act (British Columbia) for the construction and operation of the project.

New Debt Facility

On April 1, 2026, the Company made the $4.3 billion upfront payment related to the BHP Antamina PMPA. The upfront payment was funded through a combination of the cash on hand at closing, a draw on the Company’s Revolving Facility (Note 16), and a new $1.5 billion non-revolving term loan credit facility (“Term Loan”), which carries a two-year maturity and aligns with the terms of the Company’s existing Revolving Facility. The Term Loan may be repaid at any time without penalty.

WHEATON PRECIOUS METALS 2026 1ST QUARTER REPORT - FINANCIAL STATEMENTS [36]

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Corporate Information DIRECTORS George Brack, Lead Independent Director Jaimie Donovan Chantal Gosselin Haytham Hodaly Jeane Hull Glenn Ives Charles Jeannes Marilyn Schonberner Randy Smallwood, chair Srinivasan Venkatakrishnan OFFICERS Haytham Hodaly President & Chief Executive Officer Curt Bernardi Executive Vice President Strategy & General Counsel Vincent Lau Senior Vice President & Chief Financial Officer Patrick Drouin President, Wheaton Precious Metals International & Chief Sustainability Officer AUDITORS Deloitte LLP Vancouver, Canada INVESTOR CONTACT Emma Murray Vice President, Investor Relations Telephone: 1 604 684 9648 Toll Free: 1 844 288 9878 Email: info@wheatonpm.com CANADA - HEAD OFFICE Wheaton Precious Metals Corp. Suite 3500 1021West Hastings Street Vancouver, BC V6E 0C3 Canada CAYMAN ISLANDS OFFICE Wheaton Precious Metals International Ltd. Suite 300, 94 Solaris Avenue Camana Bay P.O. Box 1791 GT, Grand Cayman Cayman Islands KYl-1109 TRANSFER AGENT Odyssey Trust Company 1310 - 1140 West Pender Street Vancouver, BC V6E 4Gl Toll free in Canada & USA 1 888 290 1175 Direct Dial 1 587 885 0960 STOCK EXCHANGE LISTING: Toronto Stock Exchange: WPM New York Stock Exchange: WPM London Stock Exchange: WPM Wheaton Precious Metals is a trademark of Wheaton Precious Metals Corp. in Canada, the United States and certain other jurisdictions.

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Wheaton Precious Metals Corp. Suite 3500 - 1021 West Hastings St. Vancouver, BC Canada V6E 0C3 T: 1 604 684 9648 F: 1 604 684 3123 TSX I NYSE I LSE: WPM wheatonpm.com Value through streaming.